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Bank receives first Fitch rating

Bank receives first Fitch rating

Auswide Bank has announced that it has received a first-time credit rating of BBB+/F2 (long term/short term) with a stable outlook from Fitch Ratings.

The rating is the first Auswide Bank has had from Fitch, after it withdrew its last rating from Standard & Poor’s (which was a BBB-/A-3 rating with a stable outlook).

Managing director Martin Barrett said that the Fitch rating was a testament to the strength of the bank, including its “robust capital, strong risk management processes and sound asset quality”.

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The bank added that the dual rating, which includes Moody’s rating of Baa2/P2 (stable outlook), provides a “strong platform to maintain growth in the bank’s residential, business and consumer finance lending”.

[Related: S&P downgrades bank’s outlook]

Bank receives first Fitch rating
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Annie Kane

Annie Kane is the editor of Mortgage Business.

As well as writing news and features on the Australian mortgage market, financial regulation, fintechs and the wider lending market – Annie is also a regular contributor to the Mortgage Business Uncut podcast.

Before joining Momentum Media in 2016, Annie wrote for a range of business and consumer titles, including The Guardian (Australia), BBC Music Magazine, Elle (Australia), BBC Countryfile, BBC Homes & Antiques, and Resource magazine.

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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